Page-2 of Taxation

Lok Sabha clears Taxation (Amendment) bill, 2019

December 3, 2019

On December 2, 2019, Lok Sabha passed the Taxation Laws (Amendment) bill, 2019. The main objective of the bill is to provide an option for the domestic companies to pay taxes at the rate of 22%. Key Features The bill ..

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Government notifies Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019

August 23, 2019

Union Finance Ministry has notified Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019, a dispute resolution and amnesty scheme to reduce legacy service tax and central excise cases. It will become operational from September 1, 2019 four months till December 31, 2019. ..

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Tweaks to the FPIs in Union Budget

August 9, 2019

The Indian Government has made a few tweaks to the norms of foreign portfolio investors (FPIs) to attract funding for the Indian capital market. What has happened? The Indian Government had, in the recent Union Budget, announced that increased surcharge ..

2 years of GST

July 1, 2019

The landmark one-nation, one-tax reform, the Goods and Services Tax (GST) was introduced on July 1, 2017. In its two year journey, it has shown some hiccups, a little more challenges and a lot of potential for future growth. What ..

Government receives Rs. 3,000 crore from MNCs that have entered into APAs

September 4, 2018

Union Government has received Rs. 3,000 crore of additional tax from MNCs that have entered into advance pricing agreements (APAs) with it over last five years and also has eliminatedbig source of tax litigation. It was revealed in recently released ..

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Government raises threshold monetary limit for filling appeals relating to tax cases

July 13, 2018

Union Finance Ministry has hiked threshold monetary limit for tax departments to file appeals all three levels of appeal — Appellate Tribunals, High Courts, and Supreme Court. The move is aimed at significantly decreasing taxpayer greivances and litigation burden of ..

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S Ramesh appointed as Chairman of CBIC

June 27, 2018

The Union Government has appointed senior bureaucrat S Ramesh as chairman of Central Board of Indirect Taxes and Customs (CBIC), the apex policy-making body for indirect taxes. He has been appointed as chairman of CBIC with the status of special ..

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Government appoints S Ramesh as Chairman of CBIC

June 10, 2018

The Appointments Committee of Cabinet (ACC) has appointed S Ramesh, member of Central Board of Indirect Taxes and Customs (CBIC) as its next Chairman. He will succeed present chairman Vanaja N. Sarna who retires in June 2018. Central Board of ..

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CBDT notifies Protocol amending DTAA between India and Kuwait

May 8, 2018

The Central Board of Direct Taxes (CBDT) has notified protocol to amend existing Double Taxation Avoidance Agreement (DTAA) between India and Kuwait. The DTAA between both countries was signed in June 2006 for the avoidance of double taxation and for ..

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GST Council approves simplified tax return filing system

May 5, 2018

The Goods and Services Tax (GST) Council in its 27th meeting chaired by Union Finance Minister Arun Jaitley announced new and simplified return filing process. It was approved based on recommendations of Group of Ministers on IT simplification for GST ..

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